Powerhouse Enrgy Grp Update on PHE G3-UHt
09 Novembre 2015 - 8:00AM
UK Regulatory
TIDMPHE
9 November 2015
PowerHouse Energy Group plc
("PowerHouse" or the "Company")
Update on PHE G3-UHt
PowerHouse Energy Group, plc announces that demonstration and review of the
G3-UHt System has commenced in the presence of a selection of engineering and
commercial personnel from a Municipal and Regional Government based in Central
Europe. This group spent five days in Australia, three of them actively engaged
in evaluation of the G3 Unit. Their engineering review consisted of a thorough
technology examination and evaluation of each subsystem of the G3 unit.
Whilst there were minor issues discovered with the Electrical Generation Unit,
subsequent to their examination of the system, the representatives have
expressed interest in beginning commercial negotiations with the Company for
the potential acquisition of a commercially operating G3-UHt system.
These negotiations have begun in earnest and will continue over the coming
months. As is always the case, the outcome of these negotiations will not be
known for some time and the Company will make further announcements in due
course.
The engineering team will continue to collect data on the PHE G3-UHt for the
next 14-21 days to ensure the consistency of operation, as well as ensuring
that the practical results match the original modeled results. All signs point
to a successful completion of both the G3-UHt reactor and Generation System.
Current demonstration and review is on an invitation-only basis for
pre-qualified, commercially interested, parties. We anticipate a public and
investor demonstration of the system before the end of the year. Including a
demonstration for senior representatives from a major city in Queensland,
Australia, within the next 10-14 days.
Upon completion of the data-acquisition phase of pilot operation of the unit,
we will "containerise" the G3-UHt for easy transport and set-up, and begin a
targeted tour with the system in multiple geographies to demonstrate the
viability of the system, in situ, with a variety of feedstock.
Keith Allaun, Executive Chairman of PowerHouse commented "This is a huge
milestone for the Company. The elegance and simplicity of this system belies
the complex engineering that has led, in less than a year, to the entire
re-imagining, redesign, reengineering, and construction of the wholly new
end-to-end G3-UHt System. For the first time commercial parties can see the
technical rigor which has been brought to bear in the creation of this unit.
We are now on the cusp of truly making a difference to the waste problem
facing our planet. Our new system is expected to prove that it is
environmentally friendly, economical, and the most energy efficient mechanism
to generate electricity or hydrogen from waste feedstock. The next few months
will be quite telling, however, we are quite optimistic about the future of the
Company."
For additional information please contact:
PowerHouse Energy Group plc
Keith Allaun +1 352 226 8644/+44 7887 588 941
Allenby Capital Limited (Nominated Adviser and Broker)
Nick Harriss/David Hart +44 (0) 20 3328 5656
END
(END) Dow Jones Newswires
November 09, 2015 02:00 ET (07:00 GMT)
Grafico Azioni Powerhouse Energy (LSE:PHE)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Powerhouse Energy (LSE:PHE)
Storico
Da Lug 2023 a Lug 2024